Let property disclosure campaign
Landlords that receive letting income should notify HMRC by 5 October after the end of the tax year for which you start to receive that income. So, for the 2017-18 tax year that has just ended, HMRC
Category: Income Tax
Online access to personal tax account
HMRC has issued an update of what can be dealt with by accessing and using a personal tax account (PTA). The PTA works like an online bank account to allow taxpayers to review all their details in
Childcare voucher scheme extended
The Tax-Free Childcare Scheme (TFCS) was launched in April 2017 and opened to all remaining eligible families with children under 12 on 14 February 2018. The new scheme allows working parents to
Marriage allowance still time to apply
The marriage allowance is available to married couples and those in a civil partnership, where a spouse or civil partner doesn’t pay tax or doesn’t pay tax above the basic rate threshold for income
Claiming legal and financial costs
The self-employed are often concerned as to whether an expense is allowable for tax purposes. As a general rule, the self-employed can deduct running costs of the business when working out their
Property owners lose 50% of higher rate tax relief on finance costs
Under new rules that came into effect from April 2017 the tax relief on mortgage costs for residential landlords is being gradually restricted to the basic rate of tax. Many landlords of residential
Payments made to son not a wage
A recent First-Tier Tribunal case examined whether a father's payment of wages to his son was an allowable expense. We learn that the appellant in this case made a number of payments to his son whilst
New advisory fuel rates published
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or
What to do if you have stopped work
HMRC issues some helpful guidance that covers what you need to do if you stopped work. The guidance covers the main reasons that you might have stopped work such as being made redundant or leaving
10.7m tax payers filed before the deadline
HMRC has issued a press release detailing the number of online filings made for the 2016-17 self assessment returns. The use of the online service continues to grow year on year. In this year a total